{"id":567468,"date":"2020-01-23T04:01:38","date_gmt":"2020-01-23T04:01:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/23\/cabinet-to-begin-discussing-public-enterprises-act-changes-next-week\/"},"modified":"2020-01-23T04:01:38","modified_gmt":"2020-01-23T04:01:38","slug":"cabinet-to-begin-discussing-public-enterprises-act-changes-next-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/23\/cabinet-to-begin-discussing-public-enterprises-act-changes-next-week\/","title":{"rendered":"Cabinet to begin discussing Public Enterprises Act changes next week"},"content":{"rendered":"

<\/a> LEGISLATION WATCH-<\/strong> The Madbouly Cabinet will begin discussing the Public <\/strong>Enterprises Act amendments next week<\/strong>, Public Enterprises Minister Hisham Tawfik said, told Al Mal<\/a>. If passed, the 26-article bill would remove listed companies in which the government owns a 75% stake from the legislation, and bring them within the scope of the Companies Act. It would also give general assemblies more power to oversee company boards, and remove boards that deliver poor results at any time during their terms, among other stipulations<\/a>.<\/p>\n

Expanding the purview of general assemblies was apparently met with some early disagreement<\/strong>, Tawfik noted. Those objections have weak grounds as it\u2019s necessary to be able to \u201cchange incompetent management,\u201d the minister said in response. Tawfik didn\u2019t specify who spoke against this provision.<\/p>\n

What happens next?<\/strong> If cabinet approves the proposed changes, they will then head to the State Council (Maglis El Dawla) for review before entering the House of Representatives for a final vote.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- The Madbouly Cabinet will begin discussing the Public Enterprises Act amendments next week, Public Enterprises Minister Hisham Tawfik said, told Al Mal. If passed, the 26-article bill would remove listed companies in which the government owns a 75% stake from the legislation, and bring them within the scope of the Companies Act. It […]<\/p>\n","protected":false},"author":1,"featured_media":567469,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,153,180,3557,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-hisham-tawfik","tag-legislation","tag-public-enterprises-act","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"27d95a2e-524e-4222-a430-a0b2d42d2ed1","is_powered_by":true,"section_story_id":"49d3a74b-d8a6-4539-9445-8aca2dd62bed","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/683.jpg","photo_position":"above","related_issue":[567454],"teaser":"","voice_url":""},"yoast_head":"\nCabinet to begin discussing Public Enterprises Act changes next week - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/23\/cabinet-to-begin-discussing-public-enterprises-act-changes-next-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet to begin discussing Public Enterprises Act changes next week\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- The Madbouly Cabinet will begin discussing the Public Enterprises Act amendments next week, Public Enterprises Minister Hisham Tawfik said, told Al Mal. If passed, the 26-article bill would remove listed companies in which the government owns a 75% stake from the legislation, and bring them within the scope of the Companies Act. 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on new Public Enterprises Act: Public Enterprises Minister Hisham Tawfik met last week with lawmakers in the House of Representatives to survey their opinions on the amendments to the Public Enterprises Act, which were passed by the cabinet last month and will soon\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593424,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/govt-to-consult-trade-unions-on-public-enterprises-act-amendments\/","url_meta":{"origin":567468,"position":1},"title":"Gov\u2019t to consult trade unions on Public Enterprises Act amendments","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"LEGISLATION WATCH- Gov\u2019t to consult trade unions on Public Enterprises Act amendments as committee wraps up review: The Public Enterprises Ministry is due to invite trade unions to public consultations on the proposed amendments to the Public Enterprises Act as a newly-formed committee finalizes its review, the ministry\u2019s legal counsel\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/1075.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571485,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/state-owned-companies-face-economic-viability-tests-and-could-get-a-special-break-on-capital-gains\/","url_meta":{"origin":567468,"position":2},"title":"State-owned companies face economic viability tests \u2014 and could get a special break on capital gains","author":"enterpriseam admin","date":"13 May 2020","format":false,"excerpt":"LEGISLATION WATCH- State-owned companies face economic viability tests \u2014 and could get a special break on capital gains. Proposed changes to the Public Enterprises Act would put in place new regulations to \u201cpromote financial stability\u201d in state-owned enterprises (SOE) and introduce new limits on board compensation, Public Enterprises Minister Hisham\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593864,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/el-sisi-forms-committee-to-work-on-public-enterprises-act-amendments\/","url_meta":{"origin":567468,"position":3},"title":"El Sisi forms committee to work on Public Enterprises Act amendments","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"LEGISLATION WATCH- President Abdel Fattah El Sisi has formed a committee to work on amendments to the Public Enterprises Act, the local press reported. 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